Xiangzhou District, Zhuhai

Zhuhai Sailong Pharmaceutical Co Ltd based in Xiangzhou issued 40 million shares at the price of 8.31 yuan ($1.30) as its Shenzhen IPO on Sept 12, bringing to 27 the number of listed companies in the district.

Sailong Pharmaceutical (stock code: 002898) opened at 10.83 yuan ($1.66), which by 10:00 am had risen by 44 percent, the daily limit. As of press time, the share price was 11.97 yuan ($1.83).

Sailong Pharmaceutical, founded in 2002, is a hi-tech enterprise integrating R&D, manufacturing, and sales focusing on neuroprotective agents and treatments for geriatric disease. The company also provides high-quality technology services, and has become one of the fastest-growing headquarters in Xiangzhou District.

The company's GM1 Injection and Cerebroprotein Hydrolysate for Injection products have been extensively developed and contributed more than 94 percent of its total sales revenue in 2016.

A manufacturing base and an R&D center have been constructed respectively in Yueyang and Changsha in Hunan Province. The firm is now planning to allocate more than 500 million yuan ($76.6 million) of the total raised funds of 701 million yuan ($107.4) for another production and research base in Changsha. A hundred million yuan ($15.3) will go build up an online sales system and the rest will be held as additional liquidity, according to a company executive.

The ceremony was attended by government and party officials including Xiangzhou District Chief Liu Qiying.

Xiangzhou-based Zhuhai Sailong Pharmaceutical was listed on the Shenzhen Small & Medium Enterprise Board on Sept 12.

Cerebroprotein Hydrolysate for Injection developed by Sailong Pharmaceutical is one of its flagship products.

Zhuhai Pharmaceutical, located at No 22 Jingle Road in Xiangzhou District, is a fast-growing headquarters. [Photos courtesy WeChat account: zhxiangzhou]